US Markets: Futures Decline on Tech Weakness and Iran Tensions

The S&P 500 (SPX) fell 2.7% in the last session, closing at 7,386. The RSI dropped to 42.9, below the neutral zone, while the MACD remains negative and below its signal line. The index is trading below its 20- and 50-day moving averages, indicating a weak technical outlook. Headlines point to weakness in technology stocks and tensions with Iran as factors pressuring the market. The short-term downtrend is likely to continue.

NDX dropped 4.7% in the last 24 hours to 29,083, closing below both its 20-day (29,232) and 50-day (29,989) moving averages. The RSI at 41.3 has fallen below neutral territory but has not yet entered oversold levels, suggesting further downside potential. The MACD line remains below the signal line and in negative territory, confirming weak momentum. Iran tensions and tech weakness highlighted in the news headline could amplify selling pressure in the short term. However, the pace of the decline and the RSI approaching oversold conditions also raise the possibility of some buying on dips.

WTI crude oil is trading at $89.81, with a slight positive 24-hour change of +0.86%. The RSI stands at 57.67, indicating a neutral zone with no overbought or oversold conditions. The MACD remains negative but is approaching the signal line, suggesting a weak recovery in momentum. The price is above the SMA20 ($88.58) but near the SMA50 ($89.75), creating a short-term resistance zone. Geopolitical tensions involving Iran could support oil prices due to supply concerns, while tech weakness and broader market declines may reduce risk appetite and pressure oil. As a result, short-term direction remains uncertain.